BetMGM has completed its move to its permanent sportsbook at The Banks in Cincinnati, Ohio with further development phases to follow.
Previously, the sports betting and online casino operator was operating from a temporary Great American Ball Park location. The BetMGM Sportsbook at The Banks is located at the corner of Second Street and Joe Nuxhall Way, in the area previously occupied by Galla Park Social.
BetMGM is the Official Sports Betting Partner of the state’s Major League Baseball team, the Cincinnati Reds in a multi-year deal. The deal was signed in October, ahead of the launch of Ohio sports betting at the beginning of 2023.
Per latest revenue figures, BetMGM sits fourth by market share, both when assessed by handle and GGR. BetMGM took $23.0 million in mobile wagers in Ohio in July, achieving a hold of 12.2% to record gross gaming revenue of $2.8 million. FanDuel and DraftKings continue to jostle for market lead in the Buckeye State, with bet365, BetMGM and Caesars all in the chasing (but some way off) pack.
The new BetMGM location features a 350-square-foot video wall, in addition to 42 televisions around the location. From a betting perspective, there will be three in-person wagering windows as well as 14 self-service betting terminals. The venue also has seating for 200 people, and a VIP section that can be booked with private bar, screens and food.
The company has announced that the opening marks just the first phase of its Ohio expansion, with a full-service restaurant to open later in the year.
Matt Prevost, Chief Revenue Officer at BetMGM commented: “When we were putting together our plans for Ohio prior to our January launch, building the premier sports and entertainment venue at The Banks was an integral part of delivering the BetMGM experience in The Buckeye State. We are thrilled to see this vision become a reality marking our next big next step in growing our relationship with the city of Cincinnati and the Reds.”
Doug Healy, Chief Financial Officer at the Cincinnati Reds added: “Moving the BetMGM Sportsbook to The Banks places this best-in-class operator into the heart of our city’s sports and entertainment district. The popularity of the BetMGM brand will help draw patrons to The Banks and add to the vibrancy of our downtown.”